Najm for Insurance Services has announced ongoing efforts to enhance insurance fraud prevention and develop new indicators for assessing the legitimacy of traffic accidents and detecting fraud.
WTW has appointed Mr Ben Di Marco as leader of its new dedicated technology industry practice. He is a cyber and technology risk specialist.
The Independent Code Review Committee has issued its interim report on its review of the General Insurance Code of Practice, which contains 104 recommendations which cover a number of areas, including financial hardship, customer vulnerability, claims handling, enforceability and governance.
The business risk exposure of African reinsurers is concentrated on a few commercial sectors, such as energy, infrastructure, and transportation, notes Fitch Ratings.
Euclid Transactional, a leading global managing general agent focused on transactional insurance underwriting and claims handling, has launched in the Asia Pacific (APAC) with a company in Singapore.
Lockton has appointed Mr Joseph Smart as Asia head for legal, risk and compliance, effective 16 September 2024.
Fitch Ratings has revised the outlook on South Korea-based Hanwha Life Insurance's (HWL) Insurer Financial Strength (IFS) Rating and Long-Term Issuer Default Rating to 'Positive' from 'Stable'. HWL is among the country's top three life insurers.
Zurich Financial Services Australia has appointed Mr David Wainwright as CRO for Australia and New Zealand, effective 6 January 2025. He has close to 25 years of experience.
Taiwan's biggest life insurer, Cathay Life, reported a net profit of NT$47bn ($1.47bn) in 1H2024, a significant increase from NT$14bn in 1H2023. This 235.7% growth was mainly driven by higher investment income, said CreditSights, a unit of Fitch Group, in a commentary.
Minority shareholders of insurance companies are asking the board and management of insurers about their readiness for recapitalisation.